Thread by @TenthAmendment

How the Emergency of 1929 and its Aftermath Revolutionized America. #EndtheFed Thread 1/15

"The stock market crash in 1929 provides an excellent example of how an emergency or crisis can be used to revolutionize a society permanently and destroy liberty and well-being in the process." @JacobforLiberty

2/15

tenthamendmentcenter.com/2020/04/01/the…

The Smoot-Hawley Tariff Act of June 1930, raised American tariffs to unprecedented levels, which practically closed our borders to foreign goods. This was the crowning folly of the whole period from 1920 to 1933 and the beginning of the real depression - Hans F. Sennholz

3/15

The Revenue Act of 1932 doubled the income tax, the sharpest increase in the federal tax burden in American history.

4/15

mises.org/library/great-…

"FDR actually campaigned in 1932 in favor of limited government. He bitterly criticized Herbert Hoover’s huge deficits and attempts to bolster failing businesses with federal help, some of which mirrored the ideas of the New Deal" @GregoryBresiger

5/15

mises.org/library/revolu…

“For three long years I have been going up and down this country preaching that government - federal government, state and local - costs too much. I shall not stop that preaching.”
-Franklin Delano Roosevelt on the campaign trail in 1932

6/15

FDR nationalized gold holdings. "Paper money now became the official money of the United States, without even the semblance of a constitutional amendment." @Jacobforliberty

7/15

On April 5, 1933, FDR signed executive order 6102, requiring everyone to turn in their gold under the threat of fines or imprisonment. @michaelboldin

8/15

blog.tenthamendmentcenter.com/2020/04/taking…

"the so-called First New Deal (1933–34) was one giant cartel scheme, whereby the government attempted to enforce cartel pricing and output reductions in hundreds of industries and in agriculture." Tom DiLorenzo @Mises

9/15

mises.org/library/new-de…

"The years 1933–1936 saw an expansionary monetary policy pushed by the Federal Reserve and the federal government. Within that time period, the stock of money increased by 46% and the general price level by 31%." Jonathan M. Finegold Catalan

10/15

mises.org/library/danger…

"Roosevelt then used the economic emergency to convert the federal government into what is now known as a “welfare state,” a type of system in which people are forced to be good and caring to others." @JacobforLiberty

11/15

tenthamendmentcenter.com/2020/04/01/the…

"Even though the economic emergency of the Great Depression turned out to be temporary, Social Security became a permanent part of American life. It is still with us today, along with countless other welfare-state programs."

12/15

"Unfortunately, we are still saddled with a massive income tax and a tyrannical IRS, an enormous welfare state, an ever-growing warfare state, and a Federal Reserve that continues producing economic chaos and monetary destruction" @Jacobforliberty

13/15

tenthamendmentcenter.com/2020/04/01/the…

What You Must Read About the Great Depression - 22 essential books. via David Gordon @mises

14/15

mises.org/library/what-y…

Can't say we weren't warned. Politicians and bureaucrats will always use emergencies, crises and fear to expand their power and control. Here, from John Dickinson, the "Penman of the Revolution" in 1768.

15/15